NOW Inc. (NYSE:DNOW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “

Several other equities research analysts have also issued reports on DNOW. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of NOW in a report on Thursday, September 7th. Seaport Global Securities lowered shares of NOW from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $17.00 in a report on Wednesday, June 21st. Credit Suisse Group set a $15.00 price target on shares of NOW and gave the company a “hold” rating in a report on Friday, August 4th. J P Morgan Chase & Co lowered their price target on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. Finally, BidaskClub raised shares of NOW from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. NOW currently has an average rating of “Hold” and an average target price of $17.78.

NOW (NYSE:DNOW) opened at 12.94 on Tuesday. NOW has a one year low of $11.31 and a one year high of $23.53. The firm’s 50-day moving average is $12.94 and its 200 day moving average is $15.15. The firm’s market capitalization is $1.39 billion.

NOW (NYSE:DNOW) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS. Analysts forecast that NOW will post ($0.26) EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of NOW by 0.7% in the 2nd quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after purchasing an additional 105 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of NOW by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 115 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of NOW by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 208 shares during the last quarter. Advantus Capital Management Inc grew its holdings in shares of NOW by 3.0% in the 1st quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 403 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of NOW by 1.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 29,396 shares of the oil and gas company’s stock worth $473,000 after purchasing an additional 413 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

NOW Company Profile

NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.

Analyst Recommendations for NOW (NYSE:DNOW)

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